Divisional Income Statements The following data were summarized from the accounting records for Jersey Coast Construction Company for the year ended June 30, 2048: Cost of goods sold: Service department charges: Commercial Division $509,100 Commercial Division $69,420 Residential Division 259,180 Residential Division 44,890 Administrative expenses: Net sales: Commercial Division $92,560 Commercial Division $771,370 Residential Division 92,560 Residential Division 462,820 Prepare divisional income statements for Jersey Coast Construction Company. Jersey Coast Construction Company Divisional Income Statements For the Year Ended June 30, 20Y8 Commercial Division Residential Division Net sales $ Cost of goods sold Gross profit Administrative expenses Income from operations before service department charges Service department charges Income from operations